Ambani, Spielberg, Snider Unveil New DreamWorks Slate

NEW YORK: In New York today to meet with DreamWorks Studios’ partners Steven Spielberg and Stacey Snider, Anil Dhirubhai Ambani, the chairman of India’s Reliance Anil Dhirubhai Ambani Group, announced that there will be an initial $825 million in financing available for the studio’s upcoming slate.

The new motion picture company formed between Reliance BIG Entertainment and DreamWorks has been functioning since November 2008. The $825 million includes an equity investment from Reliance ADA Group, debt financing from a syndication of banks and funding from The Walt Disney Company, which will handle marketing and distribution of the studio’s films outside of India. DreamWorks intends to make five to six films per year. The first is expected to begin later this year, and DreamWorks has been acquiring and developing projects for a 2010 rollout.

"This venture with Reliance opens a new door to our future," said Spielberg. "Their visionary step has given us a new set of dreams to work toward. Stacey and I thank them for their faith in us and their faith in the movie business."

“All of us at DreamWorks Studios join with our Reliance partners in anticipating the financial closing,” added Snider. “We also welcome the opportunity and freedom they have given us to make the films we want to make. We always want to aim for appeal and quality whether it be for a highly commercial concept or an artistic achievement.”

Ambani noted: "We are delighted to partner with such uniquely talented individuals as Steven Spielberg and Stacey Snider. Ever since we looked at their business plan, I have never doubted that we would succeed in providing them with the financial muscle required to realize their dreams.”

The project slate includes 39 Clues, based on the Scholastic book series; Cowboys and Aliens, a sci-fi Western co-financed with Universal Studios; the Paramount-led Dinner for Schmucks from Jay Roach; the action movie Motorcade; and the supernatural drama Hereafter.